What does the amount that appears within the "Coverage Amount/Coverage Limit" column mean?

Mortgages The amount that appears in the Coverage Amount column for Critical Illness and for Life coverage is the maximum amount for which your mortgage is insured. For Disability coverage, the Coverage Amount column displays the monthly benefit amount for this mortgage.

Scotiabank Credit Card Protection This is the credit amount that is insured on your account.

Line of Credit Protection This is the credit amount that is insured on your account. If you have applied for Life coverage and your credit limit is greater than $150,000 you will be insured for $150,000 while your application is under review for full coverage. If you have applied for Disability coverage and your credit limit is greater than $50,000 you will be insured for $50,000 while your application is under review for full coverage.

Scotia Plan Loan Protection If you have applied and are approved for Scotia Plan Loan Protection Life and/or Disability Protection, this is the credit amount that is insured on your account.

Last updated September 11, 2020